Reflections on Monetary Economics

In a response to a recent post by Brian Romanchuk, somebody made the following comment: "If private banks are ..... allowed t...

Economists generally work on the basis that improvements in technology lead to higher real wages.   Conventional production functions (...

A frequently repeated claim deployed in critiques of loanable funds theory is that private bank money creation removes the constraint o...

My last post adapted Ricardo's model of comparative advantage to include internationally mobile capital.   However, what I think is...